News digest: Jet under lens, spectrum auction, TCS vs IBM, and more

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Jet under lens over results deferment

(SBI), the country’s largest lender, put Jet Airways’ loans on the watch list and the civil aviation ministry said it was monitoring the situation at the airline after it deferred its first quarter financial results on Thursday.

The capital markets regulator Securities and Exchange Board of India (Sebi) was also studying into the deferment of results on account of reservations expressed by the airline’s audit committee, according to a PTI report. Sebi is concerned about any possible lapses in terms of disclosures and corporate governance norms by Jet Airways. The regulator is in touch with the stock exchanges on the matter.

mulls yearly spectrum auction

The (DoT) is discussing a proposal for auctioning spectrum on a yearly basis and offering it at a predetermined time. The proposal, if accepted, could be implemented in the forthcoming spectrum auctions.

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The (Trai) has already submitted its recommendations for auctioning spectrum across various bands, including 5G.

HDFC Bank’s Paresh Sukthankar resigns

HDFC Bank’s Paresh Sukthankar has resigned from the board of the country’s largest private sector bank. He will vacate the post of deputy managing director.

Sukthankar has been with since its inception in 1994. Currently, he is overseeing the banks’ credit and uncertainty management departments as well as finance and human resources.

closes in on IBM as world’s most valued

(TCS) is closing in on IBM as the world's most valuable information technology (IT) services firm.

Currently, IBM is about 20 per cent bigger than in terms of market capitalisation, compared to nearly twice the latter’s size a year ago. India’s top technology firm is valued at $110.5 billion, against IBM’s current market capitalisation of $131.9 billion.

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